Forex Signal For GBP/USD: Consolidation Before a Bearish Breakout
Forex Signal For GBP/USD: Consolidation Before a Bearish Breakout
The pair will likely continue to decline further as a falling triangle is a sign of a downtrend.
Bear Market Outlook
- Set a sell-stop at 1,3600 and a take profit at 1,3500.
- Add a stop-loss at 1,3700.
- Timetable: 2-3 days.
Forex Signal For GBP/USD: Consolidation Before a Bearish Breakout
Bull Market Outlook
- Set a buy-stop at 1,3770 and a take profit at 1,3850.
- Add a stop-loss at 1,3700.
GBP/USD is holding steady in the night session as fears of higher inflation in the UK escalate after rising crude oil and gas prices, with the pair trading at 1,3700, above last week's low of 1,3656.
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